Consumer lending

Ally Financial, the auto lender bailed out by the U.S. government, appointed Jeffrey J. Brown as chief executive officer, succeeding Michael A. Carpenter, who's also leaving the board.

A California federal judge has approved a $2.75 million settlement with USCB Inc., an accounts receivable management firm, to end allegations that the company violated the Telephone Consumer Protection Act and the Fair Debt Collection Practices Act.

The U.S. Court of Appeals for the Eighth Circuit has reversed a District of Nebraska’s order granting class certification to a lawsuit, Powers v. Credit Management Services (CMS) Inc.

The Consumer Financial Protection Bureau and Financial Services Roundtable have launched a public-private initiative to promote effective financial education across the U.S.

The American Civil Liberties Union filed a federal lawsuit Thursday against a judge in Georgia and Judicial Correction Services, claiming the private company's debt collection practices led to poor people being jailed because they couldn't pay.

Two car title lenders settled Federal Trade Commission charges requiring them to stop using deceptive advertising to market title loans. The complaints mark the first time the FTC has taken action against car title lenders.

WASHINGTON — The Consumer Financial Protection Bureau on Thursday proposed a series of regulatory relief measures for small institutions, especially those in rural areas, to help them provide credit while they try to follow the agency's tough mortgage rules.

TCF Financial took $44 million in charges to rid itself of mortgages made before the housing collapse. A distressed-asset investor purchased more than $400 million in loans from the company, and another pool of bad mortgages may be marked for sale soon.

Ally Financial faced tough questions Thursday about its strategy in the wake of the Detroit automaker's decision to use its own in-house financing arm for its entire subsidized lease business.

The National Consumer Law Center wants the Consumer Financial Protection Bureau to ban all out-of-statute debt collections, arguing that the practice of chasing "zombie debts" is unfair, deceptive and abusive.

New York Community Bancorp wants Washington to raise the asset size for systemically important financial institutions, but in the meanwhile its asset sales to stay under the threshold helped to boost profits and its CEO is pursuing possible M&A deals.

Debt-buying giant PRA Group, based in Norfolk, Va., has hired Nancy Porter as vice president of corporate communications.

TracFone, the largest prepaid mobile provider in the U.S., will pay $40 million to the Federal Trade Commission to settle charges that it deceived millions of consumers with false promises of unlimited data service.

As regulators continue to scrutinize payday lending and associated products, a California startup thinks it has come up with a unique alternative for offering credit to those with lower credit scores — and some financial institutions are already signing up.

The Federal Deposit Insurance Corp. issued a letter Wednesday emphasizing that financial institutions should take a measured approach to banking relationships rather than cutting ties with entire lines of businesses.

SimpleFi is working with a New Jersey bank to pitch its payday loan alternative and financial educational services to employers across the country come February 1. It represents part of the trend of disruptors rethinking payroll data.

Arizona lawmakers voted Tuesday to expand a program that helps doctors repay their medical school debts if they agree to go where they are needed.

Consumer confidence in January rose to its highest point since before the recession, according to a new report.

Expert Global Solutions Inc., holding company of collection industry giant NCO Financial Systems Inc., has announced a large expansion in Virginia Beach, Va.

WASHINGTON — The Consumer Financial Protection Bureau issued a bulletin Tuesday warning financial institutions about entering into agreements with third parties that share or hide information related to regulatory exams.